Essex Site 9

Description

PLEASE TAKE NOTICE that a public hearing will be held on September 23, 2026 at 10:00 a.m., or as soon thereafter as the matter may be reached on the calendar, at which time those wishing to be heard will be given an opportunity to be heard concerning the proposed disposition of the real property identified below. The public hearing will be held via conference call. Call in #: 1-646-992-2010 Access Code 717 876 299. Pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter, the Department of Housing Preservation and Development ('HPD') of the City of New York ('City') has proposed the sale of the following City-owned property (collectively, 'Disposition Area') in the Borough of Manhattan: Address Block/Lot(s) 116 Delancey Street Block 353/Lot 44 Under the proposed project, the City will sell the Disposition Area to New York City Economic Development Corporation ('Sponsor') for the nominal price of One Dollar per tax lot. The Sponsor will then convey the Disposition Area to Site 9 DSA Owner LLC ( DSA 9 ) for the purchase price of $7,000,000. The Sponsor will also deliver an enforcement note and mortgage for the difference between the purchase price and the appraised value ( Land Debt ). DSA 9 will then construct on the Disposition Area one 10-story building that will contain approximately 98 dwelling units, of which 26 will be affordable to households earning between 40% and 130% of the Area Median Income ( AMI ), plus one unit for a superintendent, and commercial and/or community facility space. After a minimum of sixty (60) years following completion of construction, any remaining balance of the Land Debt may be forgiven. The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination by emailing Margaret Carey at [email protected] on business days during business hours. To make a request for accommodation, please contact the Mayor s Office of Contract Services ( MOCS ) via e-mail at [email protected] or via phone at (212) 298-0734. TDD users should call Verizon relay services. Any person requiring reasonable accommodation for the public hearing should contact MOCS at least three (3) business days in advance of the hearing to ensure availability.